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Not drowning in debt.... I bet the Greeks said the same thing and look how well that is during out for them. Soon to be followed by Italy, Spain, Ireland, etc if the EU doesn't bail them out which only means the contagion of debt spreads to every other member if it isn't in the cards already.

And here he is looking at the interest rates which are ultra low do to government and Fed intervention into the market not to mention there are no other markets for others to turn to in the event of a crisis like what we see in the EU. But how long can this last. Out of no where yields could skyrocket and of course add hundreds of billions of dollars in extra interest payments per year just on 2 to 3% point rise. That should be a telling sign of what things will look like. And what would that mean for private sector debt as well? Now if the rates do not rise do to suppression and other market factors, then you can bet that we will see massive inflation of goods especially raw materials and this would most likely be a global event not just here in the US. This guy has his blinders on and refuses to see the next set of possible future events, non of which is any good for anyone.